Nuveen LLC Buys Shares of 1,321,002 Flutter Entertainment PLC (NYSE:FLUT)

Nuveen LLC bought a new stake in Flutter Entertainment PLC (NYSE:FLUT) in the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 1,321,002 shares of the company’s stock, valued at approximately $289,627,000.

Several other institutional investors also recently bought and sold shares of FLUT. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Flutter Entertainment by 326.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,243 shares of the company’s stock worth $742,000 after buying an additional 2,483 shares in the last quarter. Whalen Wealth Management Inc. acquired a new position in shares of Flutter Entertainment during the first quarter worth about $380,000. Rubicon Global Capital Ltd grew its position in shares of Flutter Entertainment by 56.1% during the first quarter. Rubicon Global Capital Ltd now owns 70,250 shares of the company’s stock worth $15,564,000 after buying an additional 25,250 shares in the last quarter. Bessemer Group Inc. grew its position in shares of Flutter Entertainment by 0.6% during the first quarter. Bessemer Group Inc. now owns 397,297 shares of the company’s stock worth $88,021,000 after buying an additional 2,478 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its position in shares of Flutter Entertainment by 1.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,783 shares of the company’s stock worth $1,060,000 after buying an additional 67 shares in the last quarter.

Insider Buying and Selling at Flutter Entertainment

In other news, Director Christine M. Mccarthy sold 264 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $244.12, for a total transaction of $64,447.68. Following the completion of the sale, the director owned 559 shares in the company, valued at $136,463.08. This represents a 32.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Carolan Lennon sold 430 shares of the company’s stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $245.71, for a total value of $105,655.30. Following the sale, the director owned 769 shares of the company’s stock, valued at $188,950.99. This trade represents a 35.86% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,455 shares of company stock valued at $601,632. Corporate insiders own 0.09% of the company’s stock.

Flutter Entertainment Price Performance

Shares of NYSE FLUT opened at $281.25 on Monday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.95. Flutter Entertainment PLC has a twelve month low of $183.18 and a twelve month high of $313.68. The stock has a 50 day moving average of $283.14 and a two-hundred day moving average of $260.20. The stock has a market cap of $49.53 billion, a P/E ratio of 138.55, a P/E/G ratio of 1.12 and a beta of 2.31.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings data on Thursday, August 7th. The company reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.87. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%. The company had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $3.06 billion. The company’s quarterly revenue was up 16.0% on a year-over-year basis. On average, research analysts forecast that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

Flutter Entertainment announced that its board has approved a stock buyback program on Friday, August 8th that authorizes the company to buyback $245.00 million in shares. This buyback authorization authorizes the company to reacquire up to 0.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FLUT. Jefferies Financial Group began coverage on Flutter Entertainment in a research report on Tuesday, July 8th. They set a “buy” rating and a $380.00 price objective for the company. Oppenheimer boosted their price objective on Flutter Entertainment from $310.00 to $350.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 22nd. Sanford C. Bernstein reissued a “market perform” rating on shares of Flutter Entertainment in a research report on Friday. Citizens Jmp lowered their price target on Flutter Entertainment from $328.00 to $317.00 and set an “outperform” rating for the company in a report on Monday, April 14th. Finally, Truist Financial upped their price target on Flutter Entertainment from $280.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, July 16th. Three equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $328.62.

Flutter Entertainment Company Profile

Flutter Entertainment plc operates as a sports betting and gaming company in the United Kingdom, Ireland, Australia, the United States, Italy, and internationally. The company operates through four segments: UK & Ireland, Australia, International, and US. It offers sports betting, iGaming, daily fantasy sports, online racing wagering, and TV broadcasting products; sportsbooks and exchange sports betting products, and gaming products; and online sports betting.